Contact management is systems that track interaction between a business and customers or prospects, supply chain partners, or other relationships.
Functions usually include call date tracking, notes files, follow-up reminders, birthday or anniversary date reminders, and other methods to provide systematic ways to initiate and track interaction over time.
An average business organization or corporation will most likely to lose 50% of its customers within a business cycle of five years. It mainly occurs due to the imperfect realization of customer requirements by a company or an organization, which keeps on changing with time.
So it becomes crucial for an organization to effectively address the needs of its customers to retain their repetitive customer. But it’s not an easy task to keep a complete track record of all the customers.
Keeping the complete track record of all the customers within a large organization can be a bit overwhelming for the corporate executives. It is where the need for an automated system for contact management comes into play.
The automated system for contact management isn’t just capable of storing the complete details of an existing customer but is also capable of performing all the necessary updates.
Aside from all these real-life implications, an automated system of contact management is smart enough to incorporate the latest information about the recent customer activities. Contact Management System is such an automated system.
Aim of the Contact Management System
The main aim behind the development of an automated system of contact management is to assist any organization to store and retrieve all the information about a pre-existing customer in a way more robust and efficient way.
All the information about a particular customer is stored in a retrievable manner. The fascinating fact about contact management is that all the information about the contact can be made available over every single terminal at an affordable cost.
Once the company has appropriately established a contact management system, it can address the customer requirements more efficiently and effectively. The records of each customer can then be leveraged to understand customer preferences and adequately implement them for each lead. This methodology will allow the company to engage with each customer individually.
By engaging directly with customers, companies can explore the opportunities to upsell or cross-sell the product or services directly to a customer. Through this strategy, the company can achieve a two-part objective.
There are numerous long-term benefits to this strategy. Firstly, the companies can win the trust of their respective customers by providing then with uninterrupted assistance. Lastly, according to the study proposed by the Harvard Business School, a happy and loyal customer can boost the profitability of a company up to 95 percent.
Effective Methodology for Contact Management
The first and the most prominent step of establishing a contact management system is to engage directly with the customer who is seeking a solution to his/her problem through the product or service the company is providing. Contact management can be initiated by implementing one of the following ways.
- You can directly engage with the customer by asking him about the products or services being promoted or advertised by the company.
- You can make cold calling, which includes calling up a particular person and asking him whether he or she might be interested in the new product or scheme inaugurated by the company.
- You can contact prospects by internal or external references, i.e., known acquaintances, relatives, or friends of a pre-existing customer.
- You can make prospects take online surveys and past track record of the web surfing of the customers.
- You can participate in online events and exhibition events where potential customers can give their details and express their perspectives about the product or service of a company.
When the lead has been created by acting upon the strategies mentioned above, it is then time to build on the lead. It is strongly recommended to know as much as possible information about the preferences of a customer and try to acquire extensive knowledge about how much money potential customer is willing to spend. It will convert a customer into ever paying client.
Consistent engaging with the customers ensures the customer that an organization pays special heed on providing value-added incentives. Through the direct interaction with the customer, company personnel can guide their respected customers towards the official website of a company, and utilize telephonic conversation to gain firsthand knowledge about the needs of the customers.
All the necessary information about a customer can be effectively stored in a way more robust way in a central database. Then another great way of knowing a personal preference of a customer is to keep the track record of IP addresses of the customers visiting the official website of a company regularly. Through this methodology, an organization can outreach more customers.
By acquiring a piece of more extensive knowledge about the needs of the customers, companies can emphasize significantly on the sales and convince their customers to buy from them. It is often regarded as an excellent practice to make financial dealing in a face-to-face manner that leads to better interaction between the two parties. Thereby your visitor has completely transformed into a customer. At this point, it is strongly recommended to register each customer with the company database.
The companies can manage to upsell their all products by accumulating customer feedback regularly. The organization can pay special heed to customer preference and psyche and make their product synchronize with customer needs.
Best Software for Contact Management
Automated software for the contact management assists you in keeping the track record of all the pre-existing customers. For the sake of convenience of our readers, I’ll be listing 6 best software for contact management well-suited for small businesses.
- HubSpot CRM
- Zoho CRM
Most of the contact management systems can be integrated with Enterprise resource planning systems of the organization.
Automated Process for the Contact Management
By automating the whole process of contact management, you’ll be able to design a more robust contact management system that is more profitable, efficient, and cost-effective. The automated system of contact management can define the interval at which you can call your potential customer and store all his personal information in a more retrievable manner. After transforming the prospective visitor into a company customer, the system needs to perform necessary changes to ensure the highest level of customer satisfaction.
Benefits of Contact Management
An automated system of contact management provides the following benefits to the customer:
- Addressing the customer concerns, and improve flaws in the product or service
- Companies can ensure the highest level of customer satisfaction by storing customer records in a retrievable manner with high efficiency and less overhead.
- Efficiently storing all the customer information from where it can be accessed by any personnel within the specific organization
- Tracking the sales track record of a specific customer allows the company to promote interactive orders to enthusiastic customers.
So far, we’ve discussed all the critical aspects of the contact management automated system. So far, whatever has been said, it should be taken into consideration that the success of any business, whether it is a large organization or a small startup solely relies on the level of satisfaction of the customer.
Just because of these reasons, large organizations emphasize significantly on the automated contact management system to reduce the company overhead and enhance their revenue as an outcome.